Student debt continues to be a massive issue for American students who collectively owe an estimated $1.5 trillion in loans. Navigating cost and financial aid is a crucial step in a complex process toward student attainment of higher education.
Butler University wants to increase student success through a more efficient process and sound fiscal decisions. Deploying Oracle Student Financial Planning, part of Oracle Student Cloud, the university will be able to guide students towards more responsible borrowing and course-planning that will keep them on track towards their graduation goals.
Butler, a private university in Indianapolis, integrates the liberal arts with a professional education to provide the highest quality education. It fosters a stimulating intellectual community built upon interactive dialogue and inquiry among students, faculty and staff.
With cloud technology providing real-time synchronization with government systems and automated, student-centric processes, Oracle Student Financial Planning will let Butler financial aid officers and administrators spend more time advising students on financial aid choices and less time packaging their aid. Direct integration with Oracle PeopleSoft Campus Solutions will also enable the university to cut the costs of ongoing financial aid compliance.
To date, Oracle Student Financial Planning has processed $2.9 billion in financial aid, representing 15 million automated packages.
“Cost should not be the gating factor in individuals getting the education they desire,” said Pete Williams, CIO at Butler University. “With Oracle Student Cloud, we will have the tools we need to improve student success by delivering a more transparent and effective financial aid experience.”
Oracle Student Financial Planning supports traditional and non-traditional academic models and drives institutional transparency, regulatory compliance, superior student visibility, and control of education financing options. With it, institutions can leverage advanced automated technologies to manage comprehensive fund management, calculate and repackage student financial aid based on pre-set triggers, optimize both private and public funding sources based on student financing requirements, reduce time and resources spent on supporting manual processes, and reduce the complexity of annual audits and compliance risk.
“Financial aid has been a frustrating and confusing process for many students, making it difficult to find options that best meet their qualifications and needs,” said Vivian Wong, GVP higher education development, Oracle. “With Student Financial Planning, we are enabling progressive universities such as Butler to match students with their best financial options, giving them the resources they need to focus on reaching their academic goals.”